Modi government won't reveal names of tax evaders

Discussion in 'Politics & Society' started by Zebra, Oct 18, 2014.

  1. Zebra

    Zebra Senior Member Senior Member

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    Modi government won't reveal names of tax evaders, says divulging info can hurt diplomatic ties - The Economic Times

    By ET Bureau | 18 Oct, 2014, 04.00AM IST

     
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  3. Zebra

    Zebra Senior Member Senior Member

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    ^^

    Modi govt must sort out these issues, ASAP.

    Talk with these governments, make them understand that there are no other ways and India have to go through it. By all means.

    If they don't agree, then the last option left is violate those agreements. No matter what basis.

    But make sure all the politicians name come out in public and let the law take it course.
     
    Last edited: Oct 18, 2014
  4. Zebra

    Zebra Senior Member Senior Member

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    Otherwise it will be 'breach of trust' for people of India.
     
  5. hitesh

    hitesh New Member

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    Na khunga, Na Khane dunga .
     
  6. Free Karma

    Free Karma Senior Member Senior Member

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  7. Ashutosh Lokhande

    Ashutosh Lokhande Senior Member Senior Member

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    maybe bcoz he quoted exact statement what UPA made on this issue and then BJP had severly critisized this congress stance. now when BJP in power they parroting same statement.
     
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  8. Eesh

    Eesh Regular Member

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    What steps did UPA take to prosecute them. A lot of NOTHING.

    Wait till Modi is seen reluctant to prosecute.
     
  9. Ray

    Ray The Chairman Defence Professionals Moderator

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    The Modi Govt must reveal names.

    The investigation should be speeded up and charge sheets filed so that there is no defamation cases by by those whose names are prematurely exposed.

    But reveal the Govt must and that too Fast.

    They cannot be like the UPA Govt of not doing anything and instead successfully blocking it.

    Well, at least the saving grace is that this Govt is at least making some move towards achieving the aim.
     
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  10. Peter

    Peter Senior Member Senior Member

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    Look who has a black eye

    Look who has a black eye- In power, Modi discovers virtues of treaties

    New Delhi, Oct. 17: The Narendra Modi government today urged the Supreme Court not to insist on disclosing the identity of Indians who had parked black money abroad, more or less echoing the UPA and swallowing the barbs the BJP had hurled at the Manmohan Singh government.

    The new government has said that public disclosure of the names would affect India’s financial and diplomatic relations with several countries, including the US.

    The controversy brought to the fore the risk parties run while levelling reckless charges when in Opposition, unmindful of the responsibilities, such as upholding the law, that lie ahead when they assume power.

    The UPA had disclosed the names of certain individuals but the Modi government has taken the stand that disclosure would affect confidentiality agreements.

    “An immediate fallout would be that the Government of India would not be able to sign the proposed Inter-Governmental Agreement (IGA) with the United States of America for the purposes of automatic exchange of information,” the Centre said.

    The government said the agreement needed to be signed by December. Failure to do so will impose tax liabilities on Indian financial institutions, it added, and warned of a financial collapse as all international trade transactions are done in US dollars. The court has listed the matter for October 28.

    “The right to privacy is an integral part of right to life, and information can’t be disclosed unless a wrongdoing is found on the basis of an income-tax complaint,” the Modi government said.

    Senior lawyer Ram Jethmalani, on whose plea the court had set up a special investigation team, termed it as a “culprits’ affidavit” while the Congress weighed in by wondering what Modi would do if someone filed a “cheating” case for “hypocrisy”.

    The furore compelled finance minister Arun Jaitley to suggest that the names could be revealed only when charges were filed in a court.

    “Is the present NDA government led by Modi in any way reluctant to make some names public? Certainly not. We have no difficulty in making names public. But they can be made public only in accordance with due process of law.

    “And the due process of law has been constrained by DTAA (Double Taxation Avoidance Agreement) which was entered into between India and Germany when the Congress party was in power on June 19, 1995,” he told reporters.

    Jaitley said the “names can only be made public after investigation, (when) there are disclosures made to court, that is, when charges are filed. Till such time when the investigations are on, merely for reasons of propaganda, they can’t be made public.”

    Lawyer and former UPA minister Salman Khurshid said the NDA government should either “scrap” the agreements with other nations in the “national interest” to be able to disclose black money details or “apologise” for attacking the UPA government.
     
  11. Peter

    Peter Senior Member Senior Member

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  12. SLASH

    SLASH Senior Member Senior Member

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    Modi government should let the SIT appointed by the SC to do its job. Find the loopholes in the agreements to our advantage. If the US can get it done, than why not us? Even if the amount is $100 billion, it is still is a very large amount, which can fund our welfare projects for a few years.
     
  13. sgarg

    sgarg Senior Member Senior Member

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    NO. It is important to take pragmatic decisions.

    The investigative agencies have to do the spadework before a name is made public. Just having money in swiss bank does not make one a criminal.

    Trials by public opinion is not the correct way.

    I shall give you one example. Suppose it is found that the the head of an opposition party is found to have x billion in swiss bank.

    That political party will make huge hue and cry of political vendetta. The government will be hard-pressed as it has to bring charges. The corruption is often very difficult to prove as the corrupt (the ones in high places) are very good in covering their tracks.

    The government will take action where it can prove and bring charges.
     
    Last edited: Oct 18, 2014
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  14. sgarg

    sgarg Senior Member Senior Member

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    People should realize that the government does not want to get bogged down by this issue. There are a lot of other things on the agenda.

    A government elected on promise of development has to focus on that.

    The corruption issue will take its due course as it has taken in the case of Jayalalitha.
     
  15. Ashutosh Lokhande

    Ashutosh Lokhande Senior Member Senior Member

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    why didnt the BJP applied same logic before questioning Congress?
     
  16. arnabmit

    arnabmit Homo Communis Indus Senior Member

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  17. Free Karma

    Free Karma Senior Member Senior Member

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    AJ's explanation:
     
  18. tramp

    tramp Senior Member Senior Member

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    On black money, it will be a lot of nothing whichever mainstream party is in power. Because all this high voltage election campaign runs on black money and with each election its becoming more and more expensive. Unless the role of big money in elections is curtailed, these stashes will remain intact.

    There is no reason to believe BJP is much different from Congress in these matters.

     
  19. arnabmit

    arnabmit Homo Communis Indus Senior Member

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    The NDA’s approach on Black Money is doggedly persistent - Not Adventurist
    By Arun Jaitley

    I am a little surprised by some of the headlines in today’s newspapers which state that the NDA Government has done a U turn on the issue of black money stacked up in Swiss bank accounts. Nothing can be farther from the truth.

    Let me begin by saying that the NDA Government WILL NOT withhold any information, including names of account holders who have stashed black money abroad, from the public; but the names will be revealed after following the due process of completing investigations and reaching conclusions about quantum of unaccounted money. After doing so, all the information including the names of account holders will become public when quoted in court proceedings arising from complaints to be filed by the Income Tax Department against tax offenders. Any premature and out of court disclosure of the names of account holders would not only vitiate the investigations but will enable such account holders to get away with their offences. It will also violate India’s Double Taxation Avoidance Agreements (DTAA) with other countries and will choke receipt of all further information from those countries.

    The NDA Government took over in the last week of May, 2014. For 3 years, the UPA Government has been refusing to appoint the SIT directed by the Supreme Court. At the first very Cabinet Meeting, Shri Narendra Modi Cabinet decided to appoint the SIT. The SIT has been effectively functioning since then.

    On October 15, 2014, a team of officials led by Revenue Secretary and comprising of Chairman, CBDT has signed a Joint Statement with the appropriate authorities in Switzerland with regard to investigation into black money stacked in Swiss banks. The four important aspects of that agreement are:

    (i) With regard to the list available with India of account holders in the HSBC, where Indian tax authorities have conducted independent investigations, the Swiss would provide India with details upon our furnishing of adequate evidence in this regard.

    (ii) Whenever India has some information/ documentary evidence, the Swiss would confirm the authenticity or otherwise of that evidence.

    (iii) This would be done in a time bound manner.

    (iv) Discussion would now start on a bilateral agreement on automatic exchange of information in the banking system. If this bilateral arrangement is arrived at, it will be an important milestone in detection of black money held by Indians in the Swiss banks.

    Independent of the above, the Supreme Court of India in the “Black Money Case” had directed the Government of India to furnish the names to the petitioner which have been given by Germany to India. These names were given to the petitioner who made them public. The Germans strongly objected to this as a violation of the Double Tax Avoidance Agreement (DTAA) which was entered between Government of India and Germany on 19th June, 1995. The present NDA Government has unfortunately inherited the legacy of that DTAA. We may have negotiated a better deal. If we scrap the treaty, we get no further information. The covenant to the treaty is that the names of the account holders and information received thereunder will only be disclosed when charges are filed in court. They obviously cannot be utilized for political propaganda or for political mileage.

    The choice before the NDA Government is clear; violate the Treaty and get no names in future or abide by the Treaty, collect evidence, file charges in courts and let the names become public so that the account holders can be named and shamed. One act of adventurism of violating the treaty and discussing the name could perhaps jeopardise future cooperation from the reciprocating state.

    All that the Government has requested the Supreme Court is to clarify that it has not prohibited the Government of India to enter into Treaties with countries wherein a commitment may be made by the Government to maintain confidentiality of information received as per international standards. If such a commitment to maintain the confidentiality is not given we will not receive any information about Indians hiding their money in other countries including offshore financial centres and tax heavens. Thus the clarification sought from the Supreme Court is only to facilitate collection of information about illegal money stashed abroad.

    Nobody has ever suggested that the names should not be made public. They should be made public in accordance with the existing due process of law. If that process is violated, you will never get to know the names in future. The NDA Government stands committed to detect the names, prosecuting the guilty and making them public. We are not going to be pushed into an act of adventurism where we violate the treaties and then plead that we are no longer able to get the cooperation of reciprocating states. Such an approach may actually help the account holders. Adventurism will be short-sighted. A mature approach will take us to the root of the matter.
     
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  20. sesha_maruthi27

    sesha_maruthi27 Senior Member Senior Member

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    Well BJP at least moved ahead and is doing the investigation which the congress and UPA did not do during their 10 years tenure. Investigation has to be done before you point your finger and say that he or she is guilty. In the court of law you cannot go and say that, here are the names who have accounts in Swiss bank and thus they are guilty of stashing black money. This is a weak case which is just a possibility that persons whose names are in the list do possess an account in the Swiss bank but the money in their accounts cannot be black money until you have the proof which shows that the money in the accounts is in fact BLACK MONEY.

    If the present GoI goes ahead and releases the names without proof, the persons who really are stashing away the black money can get away along with the genuine people who have genuine accounts in Swiss bank.
     
    Last edited: Oct 18, 2014
  21. anupamsurey

    anupamsurey Regular Member

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    the whole reporting is confused, i heard jaitlee saying that those who will be prosecuted (under legal actions) will be revealed to the public, some news sources are saying that it is a U turn, but i dont think that it will be right to call it that. anyway, the best thing is that these banks have agreed to divulge in this process of information sharing.
     
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